The Nord Stream is operational again. Russia began sending gas this Thursday through its largest gas pipeline to Europe after a 10-day maintenance period , as reported by the pipeline company itself, confirming one of the issues that had the markets on edge in the midst of the energy crisis .
As indicated by a spokesman for the operator Nord Stream AG to Bloomberg , the flows have restarted this July 21 at around 30% of the capacity (about 530 GWh/d) although recovering the levels prior to the closure will take a few hours. It will be throughout the day when exports through the link reach 40% of its capacity , the level it has been limited to since June 16.
The reactivation dispels the doubt that was established in Europe with the start of the routine review work and that was based on the possibility that the Kremlin would take advantage of the scheduled closure to make it permanent, as one more response to the sanctions imposed on Russia by the war in Ukraine.
Russia uses the gas to exert pressure against the European Union (EU) almost on a daily basis through gradual gas cuts. Amid suspicions of a total blockade of the Nord Stream, Gazprom sent several letters to some European customers assuring that it could not guarantee the gas supply due to “extraordinary” circumstances, and invoked the force majeure clause that allows a company to exempt itself from their contractual obligations, although the companies, including two German companies, have rejected the argument.
The Russian state gas company contributed yesterday to recovering doubts about the reopening by assuring that it was not aware of the delivery by Canada of a “key” turbine for the operation of the pipeline that remained withheld as part of the sanctions on the Kremlin, although the country American confirmed its shipment in early July.
According to Moscow, only two turbines are currently working at the Portovaya compressor station in the Leningrad region, warning that new problems may arise next week if the reconditioned engine is not returned on time.
Russian President Vladimir Putin recalled that delays in receiving this piece could lead to volumes being reduced to only 20% of capacity (30 million or 33 million cubic meters per day) by the end of this month, when maintenance work will be carried out on another part of the gas pipeline. On this issue, the president of the European Commission (EC), Ursula von der Leyen, assured yesterday that the component is already in transit back and “will arrive on time.”
A continuous blackmail
The resumption of supply provides some relief to the old continent, which is preparing for the worst scenario and looking for a way to fill fuel reserves before winter. Also to the markets. After the launch was confirmed, equities in Asia and futures in the US reduced losses and natural gas prices fell in Europe ; The previous month’s Dutch futures, the European benchmark, fell as much as 6.5% to 145 euros a megawatt-hour.
Yesterday, the European Commission presented a plan for the worst case scenario: a total supply cut. The star measure is the possibility of forcing Member States to cut 15% of gas consumption until spring 2023 in the face of an emergency situation due to shortage. ” Russia is blackmailing us , right now there are 12 EU states suffering partial or total gas cuts,” said Von der Leyen.
Germany, the country most dependent on Russian gas in the EU , would have managed to reduce its dependence on gas from Russia from 55% in February to the current 26%, as reported yesterday.
The latest chapter in Vladimir Putin’s coercion occurred just yesterday, with the Russian president’s proposal to launch the controversial Nord Stream 2 , which was suspended in retaliation for the start of Russia’s siege of Ukraine, to increase the supply of gas to Europe. “We have another route prepared: it is the Nord Stream 2. It can be launched,” declared the Russian president when speaking of the possibilities to solve the energy crisis in Europe, raising suspicions about the closure of the first Nord Stream.
This constant tension prevents the reopening of the Nord Stream from giving full confidence. France continues to anticipate that Russia will cut off the tap “at any time , perhaps this fall or this winter,” French government spokesman Olivier Véran said Thursday.